I have waiting for this day. It has been 7 months before the account doubles. Yes I know it may not be at the rate that some has advertised in the papers, like in 3 months or so.
Nevertheless, with a no open trades, I hope to double the account in 6 months, 5 if it is possible.
But to remind myself, I have to stick to the rules for money management:
1. Each trade entered is not more than 10% of the capital
2. The second trade can be made at the next 10% of capital, provide they are at least 150-200 pips apart in the same direction.
3. At most, the open trades made up of a total of 20% the capital.
I have more discipline in using the methods (Korachi and CCI34 with BB; 15minBB14).
Well the take is what to do with the sum: - now I hope to break even the losses in one of the sub-account, hopefully to do it within 2 months.
GBPUSD Analysis for 18 July
The market is expecting China to do something - like injecting simultus. the market is also expecting the Fed reserve to go for another round of QE.
The market still has its loom and gloom. Europe debts probem is not over, US and China market are weak.
The expectation brought some light to the stocks market which when green yesterday. But I am expecting the market to slow or make a reverse to take profits and soften.
The pound make a dip below 1.56 to 1.556. It rebounds back to 1.565.
The trend using CCI34 shows a market reversal soon to take place downward. The daily BB15 bound the pound at the top at 1.572.
At 1.572 (around 1.568), it happens to be the daily EMA100. It may face another resistance at EMA200 at 1.575. As such the upper bound for pound to climb today is confined at the range 1.568 and 1.575.
Support is at 1.562 between daily EMA55 and EMA21.
Wednesday, July 18, 2012
Wednesday, July 04, 2012
4 Jul 2012
The markets jump with the "good" news from the EU summit meeting. Evan as at yesterday, both the Europe and the US market are up.
However, EUR was kep within bound 1.2620 and 1.2570. It show occassion of breaking out in either direction but was contained. Now it is hovering at 1.2590 at Asian Time.
The pound was too confined, with sign of consolidation. The band is 1.5720 and 1.5660. The mean is 1.5680.
What will be the next big news that will swing the pound out of the band? Fed QE?
Looking at the technicals for today sign of movement, the is a potential for pound to gain a high at 1.5760/70 based on 1 day EMA 100 and EMA 200.
CCI is showing sign of going down should pound break 1.562, the next support is at 1.5580.
With only a major news at 1630 on UK service PMI and the US on holiday, I expect the pound to continue to hover at the 1.568 band at EMA55.
As such, a sell at EMA100 and a buy at EMA21 at 1.5715 and 1.5652 will be good with a profit target of 20-30 pips.
However, EUR was kep within bound 1.2620 and 1.2570. It show occassion of breaking out in either direction but was contained. Now it is hovering at 1.2590 at Asian Time.
The pound was too confined, with sign of consolidation. The band is 1.5720 and 1.5660. The mean is 1.5680.
What will be the next big news that will swing the pound out of the band? Fed QE?
Looking at the technicals for today sign of movement, the is a potential for pound to gain a high at 1.5760/70 based on 1 day EMA 100 and EMA 200.
CCI is showing sign of going down should pound break 1.562, the next support is at 1.5580.
With only a major news at 1630 on UK service PMI and the US on holiday, I expect the pound to continue to hover at the 1.568 band at EMA55.
As such, a sell at EMA100 and a buy at EMA21 at 1.5715 and 1.5652 will be good with a profit target of 20-30 pips.
Tuesday, June 26, 2012
26 June 2012
26 June 2012
The stocks tumble yesterday, as the world worries as Spain asked for a bank bail out. More fear is on who is next - France?
The Asia market will follow suite after the Europe and US market.
As such, the slump will contiune for GBP/USD. The dowtrend will not reverse so soon with probrable rebound.
Support is at 1.547 which is possible for GBP/USD to reach it today. On the contatary the resistance is at 1.562.
The stocks tumble yesterday, as the world worries as Spain asked for a bank bail out. More fear is on who is next - France?
The Asia market will follow suite after the Europe and US market.
As such, the slump will contiune for GBP/USD. The dowtrend will not reverse so soon with probrable rebound.
Support is at 1.547 which is possible for GBP/USD to reach it today. On the contatary the resistance is at 1.562.
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